Housing construction lags new home sales, and all the signs are that sales are set to rise strongly in 2018, writes Ian Sheperdson at PantheonMacro. Indeed, the the surge in homebuilders’ sentiment is not a post-hurricane story; gains recorded everywhere, he writes. The message from the December NAHB survey of homebuilders, released yesterday, is very supportive of Pantheon’s bullish take on the housing market. The headline index jumped to an 18-month high, propelled by an eight-point leap in prospective buyer traffic. Shepherdson is very encouraged to see that activity rose strongly across the whole country, so the jump at the national headline level is not just a post-hurricane story in the South. Indeed, the increase in the index for the South was the smallest of the four regional readings. This note can be purchased on RSRCHXchange, or alternatively contact the provider directly.